Kelly describes in detail the way the halving functions and what it signifies to your own Bitcoin circulating supply. The number of Bitcoins that miners are generating, he states, will probably be reduced in half (maybe not the Bitcoin cost as some BTC critics are shrouded following March 12).
— CNBC's Fast Money (@CNBCFastMoney) May 1, 2020
On the following scene of Quick Money, the CEO and creator of cryptocurrency investment company BKCM states Bitcoin’s financial supply stays as an alternative contrast to the much-reaching drive to prop up the global market by printing money.
“What people should know is, as the whole world is quantitative easing, Bitcoin’s about to be quantitative hardening. So the software is going to cut the daily supply. It doesn’t mean that the price of Bitcoin is being cut in half. It just means that the daily supply is being cut in half. You might want to think about it like oil, where all of a sudden [in] 11 days, half the oil rigs are turned off, and therefore that supply gets reduced. In the past, this has been a catalyst for very big run-ups.
We’ve had a tremendous run-up coming into this. It’s got some wood to chop around $9,000. But I think in the medium to long term, you now have an asset that’s going to be more scarce than gold based on the stock-to-flow ratio, in an environment where the entire world is printing money.”
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